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to building bridges between the united states and the arab and muslim world, particularly libya. and i think this is going to sour a lot of americans about the future trajectory of the middle east, about the direction in which the arab spring is headed. and i think particularly this is tragic for syrians. syrians who are now under siege or around 20,000 syrians have been killed by the regime of assad and i think many syrians were hoping for an outside intervention or outside aid to provide some type of save zones. and i think the reality is that after the united states and nato had gone into libya it oust gadhafi, i think there will be far less appetite to want on do anything in syria. >> probably also raises huge questions about money from america that is going to fund some of these governments particularly in egypt where it's $1.5 billion plus another billion that was being put together in a package right now. how do you think that plays out in congress at this point? >> that's absolutely right. egypt is a country which has i think the second or third largest aid package from the united st
mortgages and potentially other assets until we see unemployment improve in the united states, is that a good decision on his part? >> it's not my habit to comment on decisions of the sister institutions. i would only say that it demonstrates, also, that when you look at the advanced economy through the grade of the central banking, you see that we are all engaged in nonstandard measures. >> how worried are you about the fiscal cliff in the united states is this. >> i think it is part of course of the major issue that in the advanced world you have to cope with. >> but if it happens, does it bring on another recession in the united states? >> i'm sure that the u.s. leadership, whatever you have in the president discussion of course between the two major sensitivities, but a sense of the saw peer kror interests of the country will prevail. i'm absolutely confident in that. i don't trust that it is possible that the sense of the superior interests of the united states of america and by way of consequence of the entire of course advanced economy and by way of consequence the enti
to us by the congress of the united states which represents the american people. >> what does that mean in terms of numbers? >> 2% growth. >> are we at two? kevin was very careful, he went 1.5 to 1.75. >> that's very precise. >> i want basis points. >> decimal points is silly stuff, come on, joe. >> i know. >> there is positive growth, it's just not robust and the key point, it's not enough to create the jobs we need in this country. now, i argue and i argue forcefully, i'll give a speech on this tomorrow night here in new york, the reason we have so much uncertainty is not just uncertainty about europe and uncertainty about the slowdown in china, these are important things. the real uncertainty stems from what are my taxes going to be? what kind of spending pattern also come out of the federal government, how do i deal with this explosion of regulatory morass we have coming out of washington. how do you budget whether you are exxon or a little bitty 20-person company, how does the woman who runs that company or the man who runs that company budget when they have no idea what their cost
of a significant downturn in the united states economy. >> so if you have a downturn, there's a possibility that you don't have that right mix and that you could have a downturn. the odds of that are comparatively low but i worry about it because it's significant possibility. i described it as though, imagine you're on an airplane that's flying from here to los angeles, you're probably going to get there okay but if you hit an air pocket and meaning if the economy goes down, there's not an easy way to reverse it. monetary policy is less effective because when you buy a bond, when the federal reserve makes a purchase, that has the effect of giving money to somebody who won't put that money into something like that bond. and that money does not easily go to people who spend it, that's a balance between monetary and fiscal policy and i worry about the policymakers getting that balance right. that's a possibility and a scary possibility. other than that, i think the most likely situation is we will fly successfully from here to los angeles essentially but we have longer risks. you need a balanc
the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ >>> "squawk box" keeping our eyes on the prize, its eight a "squawk" oil summit. the smartest minds in the industry. >>> safeguarding your online reputation. the founde
tarp was one of the worst economic decisions in the history of the united states. >> okay. so like i said, he does not hold back on anything he's thinking about. he will be our guest host for two hours today, and that begins at 7:00 eastern. we are also going to be talking finance with the ceo of cowen and company, jeffrey solomon, and bill isaac. plus the state of innovation, steve case will be joining us live at 7:30 eastern time. so we have a big show ahead. before we get to all of that, let's get you up to speed on the morning's headlines. andrew, good morning. >> thanks, becky. good morning to you. we will get you caught up on some of the big headlines. germany's highest court ruling that the country can ratify the new permanent european bailout fund, but there are conditions to germany's participation. here's the important part. parliament will have veto power over any future increases. we'll have more on that story in just a few moments. back here in the u.s., the fed is beginning to begin convening a two-day policy setting meeting in washington. market expectations high. many
're seeing through the lens. how are things both in the united states and europe. >> and china? >> let's talk about the u.s. in almost every business, there are pockets of real success. let's take, for example, the enormous burst in rental housing. the command for rental housing is incredible. so we're in the home supply business. we do cabinet doors, home depot, supply, we do vanities and things like that. we sell vanity kits as fast as you possibly make to landlocked and multifamily housing who put these things in. we charge $500, they increase the rent $100 a month, the pay back is in months, and the game is on. people are renovating rental places and motels and hotels because they're occupied. three years ago they were taking a room in a motel, tearing it apart, bringing the fixture over and fixing the other room that was leaking. now they're renovating those things. so the home rental idea is moving strongly. you take the marcellus fields, we can't get pipe up there fast enough. we can't get pre-fab buildings up there fast enough. i mean, i'm not talking marcellus, i'm talking north dako
of years here in the united states, no matter who's in charge. others think we're headed well down from here. how do you see it? how are you kind of playing this out? >> i really see that the u.s. has one of the most dynamic economies. a lot of entrepreneurs that can always figure out where else to take their companies. and i think this is -- we have seen that in shell gas, where shell gas went from nowhere to 50, 60, now 80 billion cubic meters of annual production. it's unbelievable. and i think this is something that, you know, we do believe in the u.s. economy in the fact that, you know, u.s. cooperations will always come up with new ways of satisfying that demand. >> andrei, thank you. >> thank you. >>> coming up, the jobs report could become a political football on the campaign trail. new england patriot president jonathan kraft will join us with a unique indicator. first, what happens when you send a conservative free market economist to the dnc with a microphone? peter shift found out and he'll join us live at 6:50 a.m. here's a little preview of that. >> how about a cap on prof
are basically mandated with the task of a medium to long-term sort of united states of europe kind of plan which involves fiscal, more fiscal union and political union and most interestingly i detect more and more some sort of thoughts about more parliamentary responsibility, so therefore a bit more accountability and democracy so he knew all of that before he said what he said six weeks ago and he certainly knew that he'd gotten merkel behind him in my view. >> george soros has an op. ed piece, he says germany needs to lead or leave and if a germany were to leave, the euro would depreciate, the debt burden remain the same in nominal terms and debtor companies would regain their competitiveness and the value of their real estate would also appreciate in nominal terms. do you buy that? >> i can't resist in teasing him a bit. he must be dabbling around in mantis united shares going to his head. without germany there is no euro. the idea germany leaves and the rest carry on is a non-starter. i don't understand why someone like george is saying that. >> i want to see his book, whenever he says anyth
by examining 113 indicators from official data sources and polling 15,000 executives. united states continued a four-year slide to the seventh spot. separately, a judge ruling amr can abandon its pilot's union contract. saying the bankrupt parent of american airlines corrected certain issues that caused him to reject the same request in the past. amr is trying to save more than $1 billion a year in labor costs. it can unilaterally impose work terms on its pilot, all is happening as talks between amr and u.s. air continue. >>> in the meantime, a very complicated story. we've been trying to follow the twists and turns. the fbi now says there is no evidence to support claims that hacking group anonymous infiltrated an fbi agent's laptop and lifted data for more than 12 million apple products. however the front page of "the financial times" lays it out and says hackers embarrass apple with this data release. there were over a million different devices, numbers were published online. this is a story that has many odd twists. the hackers said they would not give any interviews about this breach unt
% of the budget. >>> back in the united states, the new york attorney general is investigating whether private equity firms have abused tax strategy in order to cut hundreds of millions from their tax bills. eric schneiderman wants documents that reveal whether they converted certain fgt fees into investments which are taxed at a lower rate than ordinary xhk. economy. schneiderman is looking to see if he's trying to embarrass bain. andrew, right now, i'll send it over to you. >> fascinating story. hope we talk about that in a little bit. corporate headlines this morning. valiant pharmaceuticals is buying metacis for $24 a share. a 39% premium. the deal boosting valiant skin care offering and adds botox to it's portfolio. oracle is launching an appeal on five-year long court case against s.a.p. last month they agreed to pay oracle $306 million over copyright infringement allegations. great to be back. what do you think, a little right here in. >> i've never heard of disport? >> botox? >> you're not who i'm worried about. it's clear by saying you might need it, i know what you're actually saying
in the united states. maybe you do own them. >> do you know who has heard of them? >> who? >> jim cramer. >> the deal is worth approximately $35.75 a share. i don't know what type of medical devices they make. you know, i like a lot of things. i don't mind seeing toys made in china, that's fine, that's good. my defibrillator, maybe not. >> there are problems with defibrillators made here. >> that's true. my 737, no. >> no? >> you fly around on chinese airplanes? >> the iphone. the iphone doesn't crash. >> chinese car if you lock your keys in them, you get a can opener and you can easily break into your car like a lunar landing module, you put your elbow right through it if you -- >> what do you want me to say? >> that amazon is planning an online marketplace? >> amazon is planning an online market place for wine sales, the second attempt to sell wines to consumers after a partner problem forced them to end the first one three years ago. they held a workshop in napa this week with members of the napa valley vintners association. they are planning to charge wineries a 15% commission on sal
industry can be to improve the perception of banking, which is at a 40-year low in the united states, and so many people who died were in the financial industry. i knew several and so i think our actions can be driven by the shareholders and if it's not driven by the shareholders, then it will be driven by the regular gla glators and part of the action is encourage the large banks to spin off certain underperforming divisions so the valuation could increase and right now the sum of the parts for many of these banks are far above where these market values exist. >> okay, mike. we appreciate that sentiment and the point. back to jamie dimon for a second and this idea of splitting up the banks. you raised this issue with him. what was his answer? >> he didn't say never, and the debate with jamie dimon got heated last thursday when i met with him, he's ceo of jpmorgan as you know, and he said if the discount is 50% and the businesses are no worse off, then he'd consider it, even jamie dimon would consider a splitup. he said it's extremely unlikely, they have all sorts of synergies and th
camera again is everybody wants equal opportunity and fairness in the united states. it's just when that breaks down and you don't think it's fair. and you know what else plays into it? is corporate cronyism and the kablt ability to succeed but not to fail. we talk about these things in a perfect world. and it's not perfect. and that's when we get things that need to be rectified and people feel like they're getting screwed, basically. >> no, there's a feeling, and the feeling is enhanced in a downturn, a bubbly economy is when people feel better. i have to add these problems may seem, you know, to be challenges for us. they're big challenges in other places. >> worse than here. >> oh, yeah. india has had momentum stall and a loss of investor confidence from some really dumb stuff. >> you think we can get our mojo back, mike? >> oh, yeah. >> you do? >> yeah, i think so. partly because there's so many parts of the economy on the private sector side that are dynamic and functioning fine. i think people will get motivated and get back in the game. the real question marks frankly on our
Search Results 0 to 13 of about 14